Cost of car insurance in UK hits record high after 11% jump in 12 months
Changes to compensation rules and rise in insurance premium tax blamed, as drivers pay £484 on average for annual policy
The cost of car insurance has soared by 11%, nearly four times the rate of inflation, over the past year, taking the cost of motor cover to a record high.
UK drivers are paying an average £484 for an annual insurance policy, up£48 in the last 12 months, according to the Association of British Insurers. It laid much of the blame on changes to compensation rules and an increase in insurance premium tax.
Source: Guardian Transport